ATM Management Firm PAI Buys TouchPoint 21

Payment Alliance International (PAI), which works in ATM portfolio management tools and services, has acquired TouchPoint 21, which works in ATM and cash management for financial institutions, the companies announced Friday (Feb. 4).

PAI will now have access to TouchPoint 21’s work in advanced ATM and Interactive Teller Machine (ITM) terminals, as well as its in-house servicing and armored teams.

The release notes that the acquisition will bolster PAI’s ability to support financial institutions’ growth. With fully outsourced ATM operations, banks and credit unions can more easily add to their operations, the press release claims.

Additionally, the release says it allows for expanded footprints at better prices, better management and real-time visibility, cash automations and more streamlined operations for internal teams.

“The TouchPoint 21 team is committed to simplifying and improving ATM operations for its customers,” PAI CEO David Dove said in the announcement. “Their track record of innovation and customer service fits perfectly with us. I look forward to expanding our service model with the expertise the TouchPoint 21 team brings.”

“Joining with PAI unlocks an expanded value set for our customers and also enables us to deliver these benefits to a much wider customer base,” said Brett Koedam, CEO of TouchPoint 21. “The capabilities that PAI has developed complement what TouchPoint 21 has built, and PAI’s focus on customer satisfaction is equal to our own. Together, we will drive continued growth as we help financial institutions deliver new solutions to their customers.”

The pandemic has seen more people using mobile and online banking solutions, with 41% of consumers saying they mostly use mobile to bank. However, the ATM is a big part of the change too — almost 11% say they use the ATM as their main banking channel.

Related: Deep Dive: How FIs Are Tapping ATMs to Bridge the Gap Between Digital and Physical Banking

Around 41% say ATMs are a regular way they access banking, and ATMs are also more often used than drive-up tellers.

The global ATM market has been expanding, and PYMNTS writes that this shows how durable the technology is. That market hit $20.18 billion in 2020, and its annual growth is reportedly likely to continue through 2028.